EGL Becomes Axpo From Today

Swiss electricity company EGL AG has become Axpo Trading AG from today as Axpo takes over complete operatorship of the company. The name change takes effect from today.

EGL first became a 100 per cent owned subsidiary of Luxembourg-based holding company Axpo in February this year. Prior to that, Axpo held a 91 per cent stake in EGL. Axpo Holding has also changed its name today and will be now known as Axpo Power.

The newly named Axpo Trading, which takes over from EGL, will manage both the trading operations of EGL as well as the company's natural gas activities following the change. This will include EGL's stake in the Trans Adriatic Pipeline (TAP). 

Axpo Power will be responsible for the maintenance and expansion of power production and infrastructure capacities and operationally managing the Swiss and European plants of Axpo AG and EGL, a statement from EGL said. Axpo Power will also be responsible for the development of new projects and power plants.